Workiva Inc. (NYSE:WK) Shares Acquired by Abacus Planning Group Inc.

Abacus Planning Group Inc. grew its position in Workiva Inc. (NYSE:WK) by 2,508.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 52,954 shares of the software maker’s stock after acquiring an additional 50,924 shares during the quarter. Workiva comprises approximately 0.7% of Abacus Planning Group Inc.’s portfolio, making the stock its 24th biggest position. Abacus Planning Group Inc.’s holdings in Workiva were worth $4,020,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Orser Capital Management LLC lifted its position in Workiva by 5.2% in the first quarter. Orser Capital Management LLC now owns 56,462 shares of the software maker’s stock valued at $4,286,000 after purchasing an additional 2,804 shares during the period. Rhumbline Advisers grew its holdings in shares of Workiva by 4.1% during the first quarter. Rhumbline Advisers now owns 74,495 shares of the software maker’s stock worth $5,655,000 after buying an additional 2,921 shares in the last quarter. Summit Global Investments acquired a new position in Workiva in the 1st quarter valued at $481,000. GAMMA Investing LLC increased its stake in Workiva by 8,443.7% in the first quarter. GAMMA Investing LLC now owns 21,103 shares of the software maker’s stock valued at $1,602,000 after purchasing an additional 20,856 shares during the last quarter. Finally, Global Wealth Strategies & Associates purchased a new position in shares of Workiva during the 1st quarter worth about $53,000. 92.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WK has been the subject of a number of research reports. Raymond James decreased their target price on Workiva from $125.00 to $105.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. Truist Financial cut their price target on shares of Workiva from $120.00 to $95.00 and set a “buy” rating on the stock in a report on Monday, April 7th. BMO Capital Markets lowered their price target on Workiva from $120.00 to $108.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Citigroup lifted their target price on Workiva from $128.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. Finally, BNP Paribas began coverage on shares of Workiva in a report on Tuesday, April 22nd. They issued an “outperform” rating and a $100.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Workiva presently has a consensus rating of “Moderate Buy” and a consensus price target of $106.30.

Insider Buying and Selling at Workiva

In other news, Director Robert H. Herz sold 1,000 shares of the business’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $88.70, for a total value of $88,700.00. Following the completion of the transaction, the director now owns 34,084 shares of the company’s stock, valued at $3,023,250.80. The trade was a 2.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.05% of the company’s stock.

Workiva Stock Up 1.4%

Shares of WK stock opened at $69.24 on Friday. The company has a market capitalization of $3.86 billion, a P/E ratio of -75.27 and a beta of 0.88. Workiva Inc. has a 12-month low of $60.50 and a 12-month high of $116.83. The firm has a 50-day moving average price of $68.95 and a 200 day moving average price of $87.80.

Workiva (NYSE:WK) last issued its quarterly earnings results on Thursday, May 1st. The software maker reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.07. The company had revenue of $206.28 million during the quarter, compared to analyst estimates of $204.24 million. The business’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.22 EPS. As a group, research analysts expect that Workiva Inc. will post -0.92 earnings per share for the current year.

Workiva Profile

Workiva Inc, together with its subsidiaries, provides cloud-based reporting solutions in the United States and internationally. The company offers Workiva platform, a multi-tenant cloud software that provides data linking capabilities; audit trail services; administrators access management; and allows customers to connect data from multiple enterprise resource planning, human capital management, and customer relationship management systems, as well as other third-party cloud and on-premise applications.